MacDonald Mines Exploration (TSX: V.BMK, Stock Forum) shares jumped 17% to 23 cents on Thursday in a down market.
The company has properties in the Ring of Fire belt in southern James Bay that are adjacent to properties held by Noront Resources (TSX: V.NOT, Stock Forum) and Freewest Resources (TSX: V.FWR, Stock Forum).
According to RODBUSTER, the share price gains are related to the battle over Freewest Resources. Should Cliffs Natural Resources (NYSE: CLF, Stock Forum) win the war, as expected, and go on to develop the chromite mine in the area, other companies would enjoy the benefits of new infrastructure.
Other posters suggested that the stock looked like it was responding to the front half of a pump and dump.
Bears_n_bulls suggested that Freewest shareholders were selling their holdings and getting into MacDonald in order to keep their holdings with a company that has properties in the Ring of Fire. The poster also contended that MacDonald’s holdings were more valuable, and the market would realize it, “if BMK can just release those juicy NR;s from sept 2009 drilling which for some odd feeling i feel is coming today or tomorrow.”
chart